Deutsche Bank Said Reports That Verizon Won't Launch Palm (PALM) Pre are "Incorrect"
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Analysts at Deutsche Bank are refuting reports from theStreet.com late Thursday afternoon that Verizon (NYSE: VZ) would not launch the Palm (Nasdaq: PALM) Pre, calling them "incorrect."
The firm comments, " Our checks continue to point to healthy carrier demand for the Pre early in CY10. We believe Palm has placed orders with the supply chain for another version of the Pre with features highly consistent with a Verizon launch.
Deutsche Bank said Palm's reaffirmed guidance strongly implies another carrier launch in coming months. They said, "again, this is consistent with a Verizon launch."
The firm reiterated their Buy rating and $19 price target on Palm, saying the stock remains attractive despite the recent run up in share price. They said the Street continues to underestimate the company's earnings power once it has multiple products in volume at multiple carriers.
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